News
IMPROVE LEASING: DO DRUGS
August 24, 2011
| Hello Philadelphia! Allow us to introduce ourselves: We are now the largest commercial real estate publication and event producer in the US and ply our trade in a dozen major metros. Heck, we’ll even fix that Liberty Bell crack that nobody seems to want to deal with. |
| Philly's office market may have drugs to thank for staying in the black this year. |
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| That's Jones Lang LaSalle's Jennifer Lamprecht's assessment.Small deals have kept activity up and absorption in the black throughout the Philly MSA, Jennifer tells us (sandwiched between JLL's John Bown and Joe Colletti). And that will continue throughout the rest of 2011, fed in large part by pharma and life science companies. She's anticipating positive absorption, but not staggering numbers: "Which frankly I think we're okay with since slow, steady growth is generally more sustainable." What has also helped has been a “clamp down” by developers on new office projects, including Brandywine Realty Trusts' site at 1919 Market St, which is now a....garden...until further notice. |
